Clear Harbor Asset Management LLC Reduces Stock Position in Liberty Broadband Co

2 min read | October 28, 2024 04:11 AM PDT | By Team Kalkine Media

Google News:

Clear Harbor Asset Management LLC Reduces Stock Position in Liberty Broadband Co — Image source: Shutterstock

Recent News

Will DHT Holdings tanker strength lift NYSE Composite Index?

Will DNOW Rebrand Boost NYSE Composite Index Energy Stocks Momentum?

Can Accenture Strengthen S&P 500 Index on AI Demand Trends Ahead?

Is Starwood Property Trust (NYSE:STWD) Shaping S&P 500 Index Moves?

Make Kalkine Media
My Trusted Source

Highlights

Clear Harbor Asset Management LLC significantly reduced its stake in Liberty Broadband Co. during the third quarter.

Several institutional investors have made notable adjustments to their holdings in Liberty Broadband.

Recent insider transactions highlight ongoing activity among Liberty Broadband's executives.

Clear Harbor Asset Management LLC has reduced its stake in Liberty Broadband Co. (NASDAQ:LBRDK) by 63.6% in the third quarter, as disclosed in its latest filing with the Securities and Exchange Commission. After divesting 9,723 shares, the firm now holds 5,576 shares of the company.

In addition to Clear Harbor, multiple institutional investors have adjusted their positions in Liberty Broadband. Whitebox Advisors LLC increased its stake by 29.5% during the second quarter, now owning nearly 2.98 million shares. Assenagon Asset Management S.A. reported a significant boost of 107.5% during the third quarter, bringing its total to approximately 2.9 million shares. Dimensional Fund Advisors LP and Highbridge Capital Management LLC also raised their holdings by 19.1% and 22.6%, respectively, while Millennium Management LLC increased its stake by 67.4% in the same quarter. Overall, institutional ownership represents approximately 80.22% of Liberty Broadband’s outstanding shares.

Insider activity at Liberty Broadband has included notable stock transactions. On September 25, insider Renee L. Wilm sold 4,423 shares at an average price of $76.56, resulting in a total transaction value of about $338,624. Following this sale, Wilm retains ownership of 3,670 shares. Additionally, CAO Brian J. Wendling sold 2,208 shares on September 26 at an average price of $75.84, maintaining a position of 11,054 shares afterward.

Liberty Broadband's stock opened at $81.89 and has a market capitalization of approximately $11.70 billion. The company reported earnings of $1.36 per share in its latest quarterly results, falling short of analysts' consensus estimates. The revenue for the quarter was $246 million, slightly exceeding projections. Analysts foresee continued growth, with estimates suggesting earnings of 8.45 per share for the current fiscal year.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.